The Vadhavan Port project will be undertaken under the PPP mode, with a total cost of Rs. 17,709 crore for land reclamation and dredging, and Rs. 38,976 crore for other infrastructure works. This marks a shift from the previous plan of EPC funding by JNPA and MMB, with private operators covering the remaining Rs. 37,244 crore.
India and Bangladesh strengthened their collaboration in various new areas, signing agreements during a meeting between Prime Minister Narendra Modi and Bangladeshi Prime Minister Sheikh Hasina. The focus was on maritime, blue economy, digital, green partnership, and railway connectivity. Both leaders emphasized the importance of future cooperation in green, digital, blue economy, and space sectors, highlighting benefits for youth.
Maharashtra Governor Ramesh Bais unveiled the book ‘Gateways to the Sea – Historic Ports and Docks of Mumbai Region’ at Raj Bhavan. Published by the Government of India, the book delves into the maritime history of Mumbai, featuring contributions from experts in various fields. With 18 chapters, it offers a comprehensive look at the region’s rich maritime heritage.
Cochin Shipyard Limited (CSL) is offering a 12-month graduate marine engineering course with job opportunities in the shipping industry. Interested candidates can apply online. After completing the course, onboard training, and passing an exam, individuals can start as junior marine engineer officers. Progression to chief engineer is possible with experience and higher certifications. Financial aid and high placement rates are available.
APSEZ’s market valuation reached $37 billion, surpassing Beijing-Shanghai High Speed Railway, becoming the top transport operations provider globally. Handling 27% of India’s total cargo and 44% of containerised cargo in FY24, the company achieved a 24% growth. Adani Ports is set to join India’s benchmark equity index, attracting $252 million in inflows.
DP World’s Chennai Economic Zone has been awarded the IGBC Platinum certification, the second for DP World’s economic zones in India. The state-of-the-art Free Trade Warehouse Zone features environmentally friendly design, electric vehicle charging stations, and a 1 MW solar plant. Ranjit Ray, Senior VP, praised the team’s dedication to sustainability.
The Union cabinet, led by Prime Minister Narendra Modi, approved the construction of a Rs 76,220 crore deep water port at Vadhavan in Maharashtra. With a capacity to handle 23.2 million TEUs annually, the port will be a vital trade link along the India-Middle East-Europe Economic Corridor. Stakeholder consultation and careful planning ensure the project’s completion by 2039.
Nine Indian ports, including Visakhapatnam and Adani Mundra, have made it to the World Bank’s Container Port Performance Index’s top 100 largest ports in 2023. Visakhapatnam secured the 19th position, up from 115th in 2022, with impressive turnaround times and low berth idle time. Other Indian ports also showed significant improvement in rankings.
Sea routes offer cost-effective cargo transportation, saving ₹300-400 per tonne. This reduces overall costs by ₹50-70 per tonne, making it appealing for businesses. Utilizing sea transportation can lower operational costs, improve efficiency, and reduce carbon emissions. With technology advancements, sea routes are now a sustainable option for companies to optimize their logistics and contribute to environmental conservation efforts.
In the 2023 global port rankings, Visakhapatnam Port Authority (VPA) placed 20th with an index of 62.29 and 19th in Container Port Performance. Moving up from 122nd in 2022, VPA aims for 90 MTPA of cargo this year. May 2024 saw a record throughput of 8,582,000 tons from 221 vessels, surpassing previous peaks.
Braithwaite & Co. Limited (BCL) has developed India’s first container for transporting green Hydrogen. Utilizing renewable energy for electrolysis, the 40ft x 8ft x 9.6ft container is well-insulated and ventilated. Equipped with various units, it is set to revolutionize the Hydrogen transportation industry with its innovative design and energy-efficient features.
APSEZ has been awarded a rating by CDP based on emissions reduction, climate policy, supplier engagement, Scope 3 emissions, and risk management processes. CEO Ashwini Gupta aims to achieve a net zero commitment by 2040 through renewable capacity expansion and greening transportation. Sustainalytics also recognizes APSEZ as having negligible ESG risks.
Goa’s maritime history is a tapestry of ancient ports, bustling trade, and cultural exchange. With a 105km coastline hosting ports like Gopakpattan and Chandrapur, the state was a vital hub for ships and traders. These ports were crucial for spice trade and cultural exchange, shaping the vibrant heritage of Goa. Archaeological remnants continue to showcase the state’s enduring ties with foreign countries.
Major shipping lines like MSC and CMA CGM are receiving preferential treatment at terminals where they have business ties or stakes, causing disruptions for smaller lines. MSC has stake in Adani Ennore Container Terminal and CMA CGM recently won rights to operate a terminal at Nhava Sheva, impacting other vessels waiting for berths. Industry insiders note smaller lines diverting to alternative terminals due to schedule disruptions, leading to a rise in transhipment volumes at JNPA.
Shipping Corporation of India is establishing a subsidiary in GIFT City to benefit from tax incentives in the special economic zone, pursuant to the central government’s directive to state-run firms. The IFSCA in GIFT City grants tax holidays, exemption from GST, and other benefits for maritime companies to boost Indian flagged tonnage and meet trade targets.
